Key trends in the European patient monitoring systems market

Sep 12 2007

Despite maturity in some segments, the European patient monitoring market still offers pockets of high growth potential. Unique strategies and technologically innovative products will sustain further expansion, even as the enthusiasm of patients and doctors for more sophisticated offerings will counteract challenges faced by the market.

“The future of the European patient monitoring market lies in technological innovation,” notes Frost & Sullivan Research Analyst C.R. Hema Varshika. “With most markets in this industry already in the mature phase, there is heightened emphasis on customer support and maintenance services.”

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Various markets in this industry exhibit an uneven growth pattern, with some more developed than others. Vendors are striving hard to provide superior training and all-round support to enhance brand loyalty and retain customers. There is an increasing focus on product development, while efforts to enhance features in existing systems are also evident.

Presently, the highly developed nature of the market poses the most serious challenge to continued growth by hindering the purchase of new systems. In addition, low budget allocations are restricting the sale of new equipment in a market characterised chiefly by replacements.

“The mature market age is compelling vendors to devise strategies that will enable them to successfully promote their products,” adds Ms. Varshika. “Innovative sales tactics and full fledged customer support will be key to success in this industry.”

Ultimately, growth and increased market penetration will depend on a combination of intense research in emerging areas coupled with strategic marketing initiatives. Forward-looking alliances and effective execution of unique marketing plans will be instrumental to gain a competitive edge.

Key Trends in the European Patient Monitoring Systems Market is part of the Patient Monitoring Growth Partnership Service, which also includes research in the following markets: European Telemedicine and Remote Patient Monitoring. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.